Daily News Roundup - Oct 5 2010

TCS, Infosys and Wipro have been shortlisted by insurance regulator IRDA for financial bidding to implement its enterprise resource planning (ERP) system. (ET)

Tata Motors has acquired 80% stake in Trilix Srl, an Italian design and engineering firm for Rs113mn. (ET)



Tata Motors has decided to increase the size of its institutional share sale by 43% to US$750mn, following an encouraging response from investors. (BS)

Reliance Industries Ltd's legal battle over the Uttar Pradesh government's decision to impose 21% value-added tax on gas is holding up supply to NTPC's two power plants and Indian Oil Corporation's Mathura refinery, despite a group of ministers making allocation to them. (BS)

NTPC to increase staff spend 16% to Rs28bn. (BS)

Infosys Technologies is considering either increasing local hiring in the US or acquiring a US-based company in the event of Washington's protectionist policy measures continuing to impact it negatively. (BL)

Marlboro, manufactured and marketed by Godfrey Philips (GPI), has forayed into the larger regular-filter market. (BS)

Ashok Leyland September vehicle sales rose 90% yoy to 10,363.

Alstom Projects has bagged Rs550mn contract from Lanco Infratech for setting up a hydro project in Uttarakhand. (ET)

Lanco Vidarbha Thermal Power Ltd, a unit of Lanco Infratech, has tied up debt of Rs56bn for its 1,320 MW thermal power project in Maharashtra with an equity component of Rs14bn. (ET)

IVRCL Infrastructure and Projects various divisions have won orders worth Rs11.2bn from sectors including power and transportation. (ET)

Ultratech Cement's September sales rose 2.7% yoy to 28.47 lakh tones. (ET)

Ambuja Cements September sales rose 9% yoy to 14.81 lakh tones. (ET)

Tata Steel is considering setting up an Rs150bn steel plant in India in collaboration with the Japanese firm Nippon Steel. (ET)

GMR Energy, a subsidiary of GMR Infrastructure Ltd, has won two bids from Rajasthan Rajya Vidyut Prasaran Nigam to implement a transmission project. (BL)

Strides Arcolab has received two approvals from the US health regulator for its lidocaine hydrochloride injection, which is used for treatment of irregular heartbeat patients. (ET)

Tata Communications to acquire Sri Lanka’s second-largest land-based telephone company Suntel. (ET)

HDFC Bank is set to foray into project financing in a bid to tap opportunities in core sector. (FE)

SKS Microfinance’s board passed a resolution terminating its Managing Director and CEO, Suresh Gurumani services with immediate effect. (BS)

BP may not sell stake in Vietnam project to ONGC. (BS)

Adani Group is looking at putting in an A$2bn (Rs86bn) bid for the port of Brisbane that is being privatised by the Queensland government. (BS)

Parsvnath Developers plans to raise up to US$67mn through private placement of shares to institutional investors for executing its ongoing projects. (BS)

IDBI Bank is in the process of raising as much as US$200mn in syndicated loans from overseas. (BS)

Government has set up a panel to promote renewable energy particularly solar in the sector to slash cost as well hazardous carbon emissions. (ET)

Cane commissioners revised the cane output estimate upwards to 346mn tons, from the first estimate of 325mt and last year's 277mt. (BL)